S&P: SEC probe won't immediately impact El Paso credit

LisaSanders

DALLAS (CBS.MW) -- The Securities and Exchange Commission's formal investigation into El Paso's
EP, +0.00%
recent reduction of its proved reserves won't immediately impact the company's credit ratings, Standard & Poor's said. "While clearly negative for credit quality, the possibility of an SEC investigation was considered when the company's ratings were lowered in February in response to the reserve revision," S&P said in a research report. Shares were up 5 cents at $6.76.

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